The stock price of Clear Channel Outdoor Holdings Inc. (NYSE: CCO) has jumped by 6.82 compared to previous close of 1.32. Despite this, the company has seen a fall of -0.70% in its stock price over the last five trading days. seekingalpha.com reported 2024-08-07 that Clear Channel Outdoor Holdings, Inc. (NYSE:CCO ) Q2 2024 Earnings Conference Call August 7, 2024 8:30 AM ET Company Participants Eileen McLaughlin – Vice President, Investor Relations Scott Wells – Chief Executive Officer David Sailer – Executive Vice President and Chief Financial Officer Conference Call Participants Cameron McVeigh – Morgan Stanley Daniel Osley – Wells Fargo Avi Steiner – JPMorgan Lance Vitanza – TD Cowen Jim Goss – Barrington Research Operator Ladies and gentlemen, thank you for standing by. Welcome to Clear Channel Outdoor Holdings’ 2024 Second Quarter Earnings Conference Call.
Is It Worth Investing in Clear Channel Outdoor Holdings Inc. (NYSE: CCO) Right Now?
Additionally, the 36-month beta value for CCO is 3.11. There are mixed opinions on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 3 rating it as “hold,” and 0 rating it as “sell.”
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The public float for CCO is 354.99M and currently, short sellers hold a 6.07% ratio of that float. The average trading volume of CCO on August 14, 2024 was 1.99M shares.
CCO’s Market Performance
CCO’s stock has seen a -0.70% decrease for the week, with a -21.67% drop in the past month and a -8.44% fall in the past quarter. The volatility ratio for the week is 7.67%, and the volatility levels for the past 30 days are at 5.51% for Clear Channel Outdoor Holdings Inc.. The simple moving average for the past 20 days is -10.36% for CCO’s stock, with a -9.51% simple moving average for the past 200 days.
Analysts’ Opinion of CCO
Many brokerage firms have already submitted their reports for CCO stocks, with Wells Fargo repeating the rating for CCO by listing it as a “Overweight.” The predicted price for CCO in the upcoming period, according to Wells Fargo is $2.75 based on the research report published on December 20, 2023 of the previous year 2023.
Wells Fargo, on the other hand, stated in their research note that they expect to see CCO reach a price target of $1.50, previously predicting the price at $4. The rating they have provided for CCO stocks is “Equal Weight” according to the report published on July 08th, 2022.
Barrington Research gave a rating of “Outperform” to CCO, setting the target price at $5 in the report published on November 11th of the previous year.
CCO Trading at -6.16% from the 50-Day Moving Average
After a stumble in the market that brought CCO to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -31.39% of loss for the given period.
Volatility was left at 5.51%, however, over the last 30 days, the volatility rate increased by 7.67%, as shares sank -23.37% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -2.08% lower at present.
During the last 5 trading sessions, CCO fell by -0.70%, which changed the moving average for the period of 200-days by +20.51% in comparison to the 20-day moving average, which settled at $1.5515. In addition, Clear Channel Outdoor Holdings Inc. saw -22.53% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at CCO starting from PACIFIC INVESTMENT MANAGEMENT, who sale 46,959 shares at the price of $1.69 back on Jul 30 ’24. After this action, PACIFIC INVESTMENT MANAGEMENT now owns 104,812,998 shares of Clear Channel Outdoor Holdings Inc., valued at $79,361 using the latest closing price.
PACIFIC INVESTMENT MANAGEMENT, the 10% Owner of Clear Channel Outdoor Holdings Inc., sale 12,584 shares at $1.55 during a trade that took place back on Apr 10 ’24, which means that PACIFIC INVESTMENT MANAGEMENT is holding 104,859,957 shares at $19,505 based on the most recent closing price.
Stock Fundamentals for CCO
Current profitability levels for the company are sitting at:
- 0.14 for the present operating margin
- 0.42 for the gross margin
The net margin for Clear Channel Outdoor Holdings Inc. stands at -0.16. The total capital return value is set at 0.09.
Based on Clear Channel Outdoor Holdings Inc. (CCO), the company’s capital structure generated 2.59 points at debt to capital in total, while cash flow to debt ratio is standing at 0.01. The debt to equity ratio resting at -1.63. The interest coverage ratio of the stock is -945.06.
Currently, EBITDA for the company is 514.89 million with net debt to EBITDA at 22.55. When we switch over and look at the enterprise to sales, we see a ratio of 3.5. The receivables turnover for the company is 4.8for trailing twelve months and the total asset turnover is 0.48. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.02.
Conclusion
In conclusion, Clear Channel Outdoor Holdings Inc. (CCO) has seen bad performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
